The UOB UnionPay Platinum card is among the leading reward credit cards offered by UOB. The card also doubles as a travel card and offers cardholders a chance to earn rewards at an accelerated rate when they spend overseas and if they appropriate the expenses correctly they can stand to earn UNI$2200 on a monthly spend of S$3000. The card is also widely accepted across the globe making it easier to swipe and earn.
|Type of fee||Amount payable|
|Annual fee||The annual fee for the first year is waived and the fee for subsequent years is S$192.60|
|Supplementary card fee||The first supplementary card has a free lifetime membership and subsequent cards charge a yearly fee of S$96.30|
|Interest rate||The interest rate is 25.9% p.a. charged on a daily basis.|
|Late payment charges||Late payment penalty is S$60|
|Cash advance fee||Cash advance fee is 6% of the withdrawn amount and is subject to a minimum fee of S$15|
|Overlimit fee||Exceeding credit limit incurs a penalty of S$40|
All transactions made in a foreign currency attract a foreign currency fee of 2.5% of the transaction amount. This includes transactions made through Visa, MasterCard, China UnionPay or JCB International.
Transactions made overseas but effected in Singaporean dollars are also charged an international processing fee. This fee is 0.8% of the transaction amount if the transaction is made through Visa and 1% of the transaction amount if the transaction is made through MasterCard.
Note: Transactions made through Visa will be charged an international processing fee of 1% of the transaction amount starting 22nd November 2016.
Aspiring candidates can apply for the UOB UnionPay Platinum card through the UOB website. If completed applications along with the required supporting documents are submitted online before 1 PM between Monday to Friday excluding public holidays, the applications are eligible for same day delivery. Alternatively one can visit their nearest UOB Branch and apply for the card.
The following documents are needed at the time of application.
For Salaried Applicants
For Applicants with Variable income/Commission Based Income
For Self-employed Applicants
For Foreign Applicants
The UnionPay Platinum card from UOB charges an interest rate of 25.9% per annum that is calculated from date of transaction on a daily basis. If the card has any outstanding balances, an additional rate of 3% is charged to the card atop the prevailing 25.9% p.a. Cash advances attract an increased interest rate of 28% per annum charged on a daily basis from the time the advance was made until it has been fully paid off. Interest rates can change as per the bank’s discretion and cardholders are advised to periodically check prevailing rates of interest with the bank.
Cardholders should pay the higher of 3% of the current outstanding amount or S$50 and failure to make the payments on prescribed due date will attract a late payment fee of S$60.
The UOB UnionPay Platinum card comes equipped with a comprehensive Card Secure Plan which is underwritten by Chubb Insurance Singapore Limited. This plan offers two types of policies which include an individual policy that charges a premium of S$52.43 and a family policy applicable to a maximum of 5 persons which charges a premium of S$93.63. The benefits of the Card Secure Plan includes protection with varying covers such as a cover of up to S$3000 in fraud protection, a cover of S$1000 to reimburse any communication cost or cost for acquiring replacements of driving licenses, identity cards, or even passports. The cardholders can avail emergency cash advances of S$1500 and emergency hotel bill advances of S$4000 if they happen to lose their card or have it stolen while travelling overseas.
When cardholders discover that their card has either been stolen, misplaced or lost, they have to call and report the fact on the toll-free helpline at 1800 222 2121 open around the clock in order to deactivate the card and prevent unauthorised transactions.